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May 27, 2024

NUPRC, Schlumberger form partnership to boost oil production

By Obas Esiedesa

ABUJA — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has agreed with oil firm, Schlumberger Global, to boost oil production in Nigeria.

The commission in a statement yesterday, said the agreement was reached when the President of Schlumberger, Mr. Olivier Le Peuch, visited its chief executive, Engr Gbenga Komolafe.

NUPRC said the high-level meeting between its chief executive and officials of Slumberger underscored its commitment to fostering strategic partnerships that would enhance Nigeria’s oil production and operational efficiency.

It stated that during the meeting, Engr. Komolafe emphasized that the NUPRC adopted a participatory and collaborative approach to facilitate ease of doing business in the oil sector.

He highlighted several of the commission’s achievements since its inception in 2021 under the Petroleum Industry Act, PIA.

“Key achievements include the establishment of 17 regulations aimed at improving industry standards and operational efficiency.

‘’Additionally, the re-engineering of the Nigeria National Data Repository, NDR, has been a significant milestone, promoting the monetization of oil blocks and aligning regulations with global energy transition initiatives and carbon footprint reduction goals.

“The CCE also mentioned the ongoing licensing rounds as a testament to the Commission’s proactive approach in regulating the sector.

‘’One notable achievement expounded upon was the NUPRC’s commitment to eliminating gas flaring and commercializing flared gas under the Nigerian Gas Flare Commercialization Programme, NGCP.

‘’This initiative has designated 49 flare sites for commercialization, demonstrating the commission’s dedication to environmental sustainability and resource optimization,” the statement added.

On his part, Mr. Olivier Le Peuch expressed satisfaction with the commission’s regulatory framework and indicated SLB Global’s readiness to collaborate.

He reiterated the importance of such partnerships in unlocking Nigeria’s onshore and offshore oil potential, particularly through leveraging advanced technology.

“Areas of mutual interest discussed included the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.

“At the end of the meeting, it was agreed that a contact team would be established to further investigate and identify more opportunities for collaboration.

‘’The team will focus on expanding the scope of mutual interests and ensuring that both organizations can effectively work together to achieve their shared objectives,’’ he added.

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